Key Highlights
- Rural Airbnb hosts earned +25% more this June compared with last year’s June
- Rural Airbnb hosts earned +$200M in June 2020
What a difference a day makes, right? In March of 2020 Airbnb laid off nearly 25% of its employees to mirror its enormous plunge in bookings and skyrocketing cancellations, raised emergency debt funding and temporarily shelved its planned IPO. In June of 2020, rural Airbnb host earned +$200M, an increase of +25% compared with June of 2019.
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Today, urban Airbnb hosts are continuing to suffer with cancellations and lost revenue while rural Airbnb hosts are hustling to keep up with tremendous demand. People want out of their four walls, into their cars and semi-local escapes to “off the beaten path” adventures. Joseph DiTomaso, CEO of AllTheRooms, an aggregator of data on the vacation rental market, said, “It really looks like individuals and families (are) choosing to get away from densely populated areas and wait out the virus.”
States with the greatest y/y increases in Airbnb bookings through the remainder of the summer include Oklahoma, Arkansas, West Virginia, North Dakota and Iowa. States with the greatest y/y decreases in Airbnb bookings through this same time period include California, Massachusetts and New York.
Hosts are emphasizing peace and quiet, solitude, pools, proximity to hiking trails and lakes, enhanced cleaning protocols informed by CDC guidelines and, last but not least, 24-7 reliable Wi-Fi. Airbnb’s data indicated that more than nine of every 10 dollars earned by hosts for June trips inside the US were for locations outside of America’s ten most populous cities and that hosts earned over $4.8M from guests living within 300 miles of their homes.
Initially, rural Airbnb hosts noticed their guests stayed an average of 4.27 days, according to AllTheRooms. Now, the average stay is 7.43 days. And, instead of “escaping” with just a household partner or small family, people are coming in larger friend groups and/or multigenerational family and multi-family group
Thanks to CNBC, Airbnb and AllThe Rooms.
Also read: Airbnb Cuts 25% of its Workforce, Airbnb Announces $250M COVID-19 Relief Fund for Hosts, Podcast: Why You May Be Addicted To Drama And Stress (and What To Do About It) | Tim and Julie Harris
